Updating cas disclosure statements
Background Prior Promulgations: The original Disclosure Statement form (CASB DS-1) was developed and promulgated in the early 1970s. Subsequently, a project was initiated to revise and update the Disclosure Statement (CASB DS-1).
This section identifies your company and is relatively self-explanatory. Use these along with the description of the major functions for each indirect cost you list.
The Cost Accounting Standards Board Disclosure Statement (CASB DS-1) is the form required by Public Law 100-679 for contractors and subcontractors.
Its purpose is to provide consistency in reporting of costs.
An IHE is responsible for maintaining an accurate DS-2 and complying with disclosed cost accounting practices.
An IHE must file amendments to the DS-2 to the cognizant agency for indirect costs six months in advance of a disclosed practice being changed to comply with a new or modified standard, or when a practice is changed for other reasons.
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This section is used to identify the treatment of costs. For each tangible asset listed, assign the appropriate code for each of the four columns.